Boston Scientific Co. (NYSE:BSX) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,165,399 shares of the medical equipment provider’s stock after purchasing an additional 3,344,571 shares during the quarter. Wellington Management Group LLP’s holdings in Boston Scientific were worth $3,230,293,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TFC Financial Management Inc. boosted its stake in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. Dunhill Financial LLC lifted its holdings in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Global Wealth Strategies & Associates boosted its position in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $29,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. UBS Group boosted their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Argus set a $130.00 price target on Boston Scientific in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 over the last three months. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 1.5 %

Shares of Boston Scientific stock opened at $99.29 on Monday. The stock has a 50-day simple moving average of $102.16 and a 200-day simple moving average of $93.18. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The firm has a market cap of $146.86 billion, a price-to-earnings ratio of 79.43, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.